Supreme Court · 1997 INSC 234 · Decided 6 March 1997
SH. S.P. Jaiswal ETC. v. The Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 1997 INSC 234 · [1997] 2 S.C.R. 746
- Case number
- CIVIL APPEAL No. 2587/1983
- Decided
- 6 March 1997
- Bench
- S.C. AGRAWAL, G.B. PATTANAIK (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 256, 256(2)
Headnote
Income TaxAct, 1961-Sections 61, 256(1) and (2),-Assessee-Manag­ ing Director--{Jave loan to his children-Assessing Offiqer taxed the assessee for interest derived from the loan-Tribunal held it not a benami transaction, C and interest derived from income cannot be taxed in the hands of can be taxed in the hands of assessee-fle/d, No e"or in the judgment of High Court-No Interference called for. Income Tax Act, 1961-Section 256-Jurisdiction of the High Court­ D Extent of. The appellant-assessee, Managing Director of the Company 'K' debited certain amount to the credit of
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